Post-dated Cheques
Overview
This topic describes how to manage post-dated cheques. Use the transaction Due Date field to manage when to deposit the post-dated cheques.
Settings
Create a bank Account to manage the post-dated cheques (Set the default = Bank). These settings display the post-dated cheques (PDC) in the Age Analysis.
General Settings
Info
With these settings, PDC appear in the ledger and on the age analyses.
Note
The defaults are the values for new databases and new users. Your database may have different values.
| Setting | Description | Default |
|---|---|---|
| General Settings > Accounting > Post-dated Cheque Bank (Customer) | This setting identifies the PDC Bank used for Customers. Select the PDC bank account from the dropdown list. | None |
| General Settings > Accounting > Post-dated Cheque Bank (Supplier) | This setting identifies the PDC Bank used for Suppliers. Select the PDC bank account from the dropdown list. | None |
Entry Type Settings
- From the dropdown list next to Default (PDC) select an Entry Type for each option:
- Customer Post-dated Cheque Receipts: Select this option for the standard Customer Receipts Entry Type.
- Clear Customer Post-dated Cheques: Create a new Entry Type for this feature. Credit the PDC bank account and debit the bank account into which the cheque is deposited.
- Supplier Post-dated Cheque Payments: Select this option for the standard Supplier Payments Entry Type.
- Clear Supplier Post-dated Cheques: Create a new Entry Type for this feature. Debit the PDC bank account and credit the bank account on which the cheque was drawn.
- When these defaults are set, transactions (Edit Views) have an Actions button with these options:
- Clear the Cheque: Enabled when the cheque is not cleared. Creates the clearance transaction and sets the Receipt or Payment to complete. (The clearance transaction is the transaction between the PDC bank account and the actual bank account.)
- Open the Clearance Transaction: Enabled when the cheque is already cleared.
Statements
- The outstanding (post-dated) cheques can be shown on the customer and Supplier statements (see Output Data Pipelines).
- In the Default View, the PDC column displays a sum of all Outstanding PDC Receipts (Active or Pending and Debit/Credit the PDC Bank).
- Outstanding PDC transactions can be viewed by clicking Menu (button) > Post-dated Cheques.